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Indian Indices Open on a Dismal Note
Mon, 11 Jan 09:30 am

After last week's market slump, Asian stock markets have begun the week on negative note. Stock markets in Singapore and Hong Kong are trading lower by 2.5% each. Even, stock indices in Europe and US ended their previous session on a negative note with benchmark indices in US closing lower by 1%. The rupee is trading at 66.66 per US$.

Following the weak global cues, Indian stock markets too have opened the day on disappointing note. The BSE Sensex is trading lower by 302 points (down 1.3%) and NSE Nifty is trading lower by 100 points (down 1.3%). Both BSE Mid Cap and BSE Small Cap are trading lower by 1.4% each. All the sectoral indices have opened in red, with stocks from metals and realty sectors facing maximum brunt.

As per an article in leading financial daily, Tata Motor's owned Jaguar Land Rover (JLR), achieved record global sales in the calendar year of 2015. The quantum of vehicles sold stood at 4.87 lakh, registering a growth of 5.1% on a YoY basis. The major growth came in from Britain, which emerged to be the luxury car's most important market. Sales of JLR in UK registered a growth of 28% on a YoY basis. Earlier, China contributed quite a significant proportion to Tata's JLR sales. Infact, this geography contributed highest portion of sales. However, recent slowdown in China has affected the revenues in this region.

Further, company stated that 2015 was a year for the company with significant new models such as Jaguar XE and Land Rover Discovery Sport and up gradation of the existing ones. This has even helped the company to boost up the sales. Recent figures also state that JLR has doubled its sales since 2009 because of new launches.

Going forward, company plans to invest 600 m pounds to support product creation and advanced vehicle manufacturing in Britain.

As per an article in leading financial daily, the mergers and acquisitions activity in the hotel industry, picked up in the calendar year 2015 after a slump of more than four years. Further, better valuations have spiked the M&A activity in the hotel industry. Reportedly, 15 hotel deals were signed in the country in 2015 against two in 2014. Few of these deals include, ITC Ltd's acquisition of Park Hyatt Hotel in Goa for Rs 5.5 billion and MetTube Sdn acquisition of Leela hotels Goa property for Rs 7.2 billion.

The hotel occupancy in the country crossed 60% after a period of five years, boosted by increase in domestic travels and hotel occupancies. Driven by this growth, global private equity investors have also shown interest in investing in the Indian hotel industry. Going forward, growth in the economy will be closely tracked to see the outperformance of this sector.

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Mar 21, 2018 (Close)